Akwa Ibom State marked a significant entry into Lagos’ competitive real estate market with the groundbreaking ceremony of an 18-storey high-rise in Victoria Island, a strategic project to boost the state’s revenue and investment portfolio.
Governor Umo Eno, joined by dignitaries from Akwa Ibom and Lagos States, underscored the importance of diversifying revenue sources, emphasizing that “no nation or subnational should rely on a single income stream.” According to Governor Eno, the newly announced Ibom Towers will serve as both a symbol of Akwa Ibom’s investment strength and a substantial contributor to its internally generated revenue.
Governor Eno stated, “Today’s groundbreaking ceremony represents our commitment to economic growth and new revenue streams. This iconic 18-storey Ibom Towers will not only raise our state’s profile but also solidify our commitment to innovative investment.”
He also praised previous leaders for paving the way in Lagos’ real estate sector, explaining that the state’s longstanding efforts in real estate investment had now positioned Akwa Ibom to benefit significantly from the lucrative Lagos property market.
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In his address, Governor Eno highlighted his administration’s dedication to implementing projects that directly impact the lives of Akwa Ibom residents, including compassionate housing, rural development, and health initiatives. “We came to serve our people,” he affirmed, adding that his administration would “continue to build infrastructure that ensures a better quality of life.”
The event also saw commendations from Lagos State Governor Babajide Sanwo-Olu, who praised Akwa Ibom’s strategic decision to invest in Lagos, noting that the city remains a premier destination for real estate in Africa. Governor Sanwo-Olu emphasized the mutual benefits of such investments and assured Governor Eno of Lagos State’s ongoing support.
Former Akwa Ibom Governor, Obong Victor Attah, described the project as a visionary step, congratulating Governor Eno and acknowledging the role of Akwa Ibom’s House of Assembly in realizing this ambitious vision.
With the groundbreaking of Ibom Towers, Akwa Ibom’s presence in Lagos real estate is set to boost economic collaboration between the two states, positioning Ibom Towers as a landmark investment in Nigeria’s business hub.
